Table 19-3 Bryce and Tina Are Artisans Who Produce Homemade Candles and

question 195

Multiple Choice

Table 19-3
$\begin{array}{|l|l|l|}\hline & \text { Candles } & \text { Soap } \\\hline \text { Bryce } & 150 & 450 \\\hline \text { Tina } & 200 & 450\\\hline\end{array}$ Bryce and Tina are artisans who produce homemade candles and soap. Table 19-3 lists the number of candles and bars of soap Bryce and Tina can each produce in one month.
-Refer to Table 19-3.Select the statement that accurately interprets the data in the table.

• A) Bryce has an absolute advantage in making candles and soap.
• B) Tina has an absolute advantage in making candles and soap.
• C) Neither Bryce nor Tina has an absolute advantage in making candles.
• D) Neither Bryce nor Tina has an absolute advantage in making soap.

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Definitions:

Foreign Exchange Market

A global decentralized or over-the-counter market for trading currencies, determining the foreign exchange rates for every currency.

Triangle Arbitrage

A riskless profit strategy that takes advantage of discrepancies between three foreign currencies in the forex market.

Spot Market

A market where financial instruments or commodities are traded for immediate delivery, as opposed to future or forward delivery.

Forward Market

A market in which participants agree to trade a financial instrument or physical commodity for future delivery at a specified price.